How is cost and value engineering currently being incorporated into the automotive industry, as well as into mechanical engineering and plant construction? How far have these processes advanced? What are the prerequisites and success factors for effective cost reduction measures? Answers to these questions and more can be found in the market study recently conducted by FEV Consulting, which can be requested free of cost at www.smartcostreduction.de.

"Companies can no longer afford the additional cost of over-engineering when faced with global competition and increasing cost pressure from clients," says Christian Speuser, Principal at FEV Consulting. "Interdisciplinary and holistic Cost and Value Engineering processes are key to successfully fulfilling client requirements through a target-oriented approach with minimal costs.

With "Smart Cost Reduction" as a guiding principle, FEV Consulting offers a unique portfolio of advisory services on how to achieve substantial and sustainable reduction of product costs. "Our recent market study demonstrates the main features of best practice organization in Cost and Value Engineering, and serves as a foundation for reorientation and optimization of existing organizations," says Speuser.

About FEV ConsultingFEV Consulting provides unique, client-oriented advisory services through the combination of years of experience in top management consulting and the technical expertise of the FEV Group. Our deep knowledge of the automotive and aviation industries enables us to find innovative solutions for the complex challenges faced by our clients.

About FEVThe FEV Group with headquarters in Aachen, Germany, is an internationally recognized development service provider for drive and vehicle technologies. The company offers its global transport industry customers a complete range of engineering services, providing support in the design, analysis and prototyping for powertrain and transmission development, as well as vehicle integration, calibration and homologation for advanced internal combustion gasoline-, diesel-, and alternative-fueled powertrains. FEV's competencies also include design, development and prototyping of innovative vehicle concepts, powertrain electronic control systems and hybrid-electric engine concepts that address future emission and fuel economy standards. The Testing Solutions division is a global supplier of advanced test cell, instrumentation and test equipment. The FEV Group employs a staff of over 4,000 highly skilled specialists at advanced technical centers on four continents.